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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

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Tencent : India's Ola said to raise $2 billion from SoftBank, Tencent - Bloomberg

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10/02/2017 | 06:50pm CEST

India's ride-hailing company Ola on Monday secured $2 billion (1.50 billion pounds) in new funding from a group of investors, including SoftBank Group Corp (>> SoftBank Group Corp) and Tencent Holdings Ltd (>> Tencent Holdings Ltd), Bloomberg reported, citing a person familiar with the matter.

India's ride-hailing company Ola on Monday secured $2 billion (1.50 billion pounds) in new funding from a group of investors, including SoftBank Group Corp (>> SoftBank Group Corp) and Tencent Holdings Ltd (>> Tencent Holdings Ltd), Bloomberg reported, citing a person familiar with the matter.

The funding round isn't finished yet and the amount could change, the person said.

The funding is also backed by venture capital fund jointly run by Indian industrialist Ratan Tata, the University of California's investment arm and U.S. institutional investors, Bloomberg said, citing people familiar with the deal. (https://bloom.bg/2fEUzVH)

Japan's SoftBank has been looking to play consolidator in India's flourishing startup ecosystem with investments that include about $1 billion in e-commerce company Snapdeal and $70 million in grocery delivery group Grofers.

Ola and SoftBank declined to comment, while Tencent was not immediately available for comment.

(Reporting by Shubham Kalia in Bengaluru; Editing by Arun Koyyur)

Stocks treated in this article : Tencent Holdings Ltd, SoftBank Group Corp
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Financials ( CNY)
Sales 2017 232 B
EBIT 2017 76 845 M
Net income 2017 61 945 M
Finance 2017 67 334 M
Yield 2017 0,23%
P/E ratio 2017 45,31
P/E ratio 2018 36,46
EV / Sales 2017 11,8x
EV / Sales 2018 8,62x
Capitalization 2 815 B
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Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 323  CNY
Spread / Average Target 8,9%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Zhi Dong Zhang Chief Technology Officer
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